Financials & FinTech research, Galliano’s Financials Research

Victor Galliano

Financials & FinTech research

Accelerating Tomorrow’s Independent Research

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Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/24513" target="_blank" data-smartkarma-citation="entities:24513:1">Itausa-Investimentos Itau-Pr (ITSA4 BZ)</a> is the main indirect vehicle through which to gain discounted equity exposure to premium ROE-generating Brazilian bank, <a href="https://www.smartkarma.com/entities/24550" target="_blank" data-smartkarma-citation="entities:24550:1">Itau Unibanco Holding Sa (ITUB4 BZ)</a>.</li>
<li>Itausa trades at a 24% discount to its NAV, with Itau Unibanco accounting for 91% of the asset value of the holding.</li>
<li>The current NAV discount is close to the 10-year high of 28%, and wider than the 10-year average discount of 21% and the 10-year low of 16%.</li>
</ul>



Itausa-Investimentos Itau-Pr (ITSA4 BZ) is the main indirect vehicle through which to gain discounted equity exposure to premium ROE-generating Brazilian bank, Itau Unibanco Holding Sa (ITUB4 BZ).
Itausa trades at a 24% discount to its NAV, with Itau Unibanco accounting for 91% of the asset value of the holding.
The current NAV discount is close to the 10-year high of 28%, and wider than the 10-year average discount of 21% and the 10-year low of 16%.


Itausa: Discounted Access to Premium Quality Itau

Brazil

Itausa SA operates as a investment holding company. The Company, through its subsidiaries, invests in companies in such areas as the financial, as well as the wood paneling, ceramic and metal sanitary, ceramic coatings, clothing, footwear, and gaspipelines. Itausa serves clients worldwide.

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Itausa (ITSA4 BZ)

Itausa: Discounted Access to Premium Quality Itau

Itausa-Investimentos Itau-Pr (ITSA4 BZ) is the main indirect vehicle through which to gain discounted equity exposure to premium ROE-generating...

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